Global Blood Therapeutics, Inc. (NASDAQ:GBT) Expected to Earn Q2 2022 Earnings of ($1.14) Per Share

Global Blood Therapeutics, Inc. (NASDAQ:GBT – Get Rating) – Equities research analysts at Jefferies Financial Group reduced their Q2 2022 earnings per share estimates for shares of Global Blood Therapeutics in a report issued on Wednesday, May 4th. Jefferies Financial Group analyst A. Tewari now forecasts that the company will post earnings of ($1.14) per share for the quarter, down from their previous estimate of ($0.70). Jefferies Financial Group also issued estimates for Global Blood Therapeutics’ Q3 2022 earnings at ($0.97) EPS, Q4 2022 earnings at ($0.85) EPS, FY2022 earnings at ($4.44) EPS, FY2023 earnings at ($2.01) EPS, FY2024 earnings at $1.44 EPS, FY2025 earnings at $3.56 EPS and FY2026 earnings at $5.34 EPS.

Other analysts have also issued reports about the stock. Oppenheimer cut their target price on shares of Global Blood Therapeutics from $86.00 to $71.00 in a research report on Thursday. Cowen dropped their price target on shares of Global Blood Therapeutics from $72.00 to $67.00 in a research report on Thursday, February 24th. StockNews.com upgraded shares of Global Blood Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday. Wedbush reiterated an “outperform” rating on shares of Global Blood Therapeutics in a research report on Monday, March 28th. Finally, Cantor Fitzgerald started coverage on shares of Global Blood Therapeutics in a research report on Thursday, April 28th. They issued a “buy” rating and a $75.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Global Blood Therapeutics currently has an average rating of “Buy” and a consensus price target of $55.42.

Shares of NASDAQ GBT opened at $26.87 on Monday. The firm has a 50 day moving average of $32.64 and a 200 day moving average of $31.24. The company has a current ratio of 8.52, a quick ratio of 8.45 and a debt-to-equity ratio of 4.34. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of -5.52 and a beta of 1.09. Global Blood Therapeutics has a 12-month low of $24.61 and a 12-month high of $41.73.

Global Blood Therapeutics (NASDAQ:GBT – Get Rating) last announced its quarterly earnings results on Wednesday, May 4th. The company reported ($1.26) EPS for the quarter, topping analysts’ consensus estimates of ($1.29) by $0.03. Global Blood Therapeutics had a negative net margin of 146.82% and a negative return on equity of 129.74%. The firm had revenue of $55.20 million during the quarter, compared to analyst estimates of $56.13 million. During the same period in the previous year, the business posted ($1.21) earnings per share. The business’s revenue for the quarter was up 41.5% on a year-over-year basis.

A number of institutional investors have recently added to or reduced their stakes in GBT. Toronto Dominion Bank bought a new position in Global Blood Therapeutics during the fourth quarter valued at $3,015,000. Squarepoint Ops LLC increased its position in Global Blood Therapeutics by 288.6% during the third quarter. Squarepoint Ops LLC now owns 51,804 shares of the company’s stock valued at $1,320,000 after acquiring an additional 38,472 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Global Blood Therapeutics during the third quarter valued at $3,279,000. Credit Suisse AG grew its holdings in shares of Global Blood Therapeutics by 5.8% in the third quarter. Credit Suisse AG now owns 56,447 shares of the company’s stock worth $1,439,000 after purchasing an additional 3,076 shares during the last quarter. Finally, Polar Capital Holdings Plc grew its holdings in shares of Global Blood Therapeutics by 54.8% in the third quarter. Polar Capital Holdings Plc now owns 1,160,900 shares of the company’s stock worth $29,580,000 after purchasing an additional 410,900 shares during the last quarter.

About Global Blood Therapeutics (Get Rating)

Global Blood Therapeutics, Inc, a biopharmaceutical company, engages in the discovery, development, and delivery of treatments for underserved patient communities with sickle cell disease (SCD). The company offers Oxbryta tablets, an oral, once-daily therapy for SCD. It also evaluates the safety and pharmacokinetics of single and multiple doses of Oxbryta in a Phase II a clinical trial of adolescent and pediatric patients with SCD.

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